ESAB Corporation (NYSE: ESAB), a focused global industrial compounder, has announced that it has entered into a definitive agreement to acquire Eddyfi Technologies, a global leader in advanced inspection and monitoring technologies, for $1.45 billion. The transaction is expected to create an unrivaled provider of end-to-end workflow solutions spanning fabrication, inspection, and monitoring.
Eddyfi is expected to generate approximately $270 million in revenue and $80 million in adjusted EBITDA in 2026, or $100 million with expected annualized run-rate synergies. The acquisition will be funded through a combination of cash on hand, debt, and $318 million of fully committed equity. The transaction is expected to close in mid-2026, subject to customary closing conditions and regulatory approvals.
As part of the agreement, ESAB has made firm commitments to maintain Eddyfi’s workforce and head office in Quebec City, reinforcing continuity and long-term investment in the business.
Commenting on the acquisition, Shyam P. Kambeyanda, President and Chief Executive Officer of ESAB Corporation, said: "This acquisition is a pivotal step that strengthens ESAB and sets the course for our next phase of growth. We are thrilled to welcome Eddyfi into the ESAB family."
He added: "With the addition of Eddyfi, ESAB becomes the unrivaled provider of a full workflow solution spanning fabrication, inspection and monitoring. This new complete offering will contribute to ESAB’s position in the industry as a partner of choice for our global customers, where quality, productivity and uptime are non-negotiable."
According to Kambeyanda, the acquisition significantly expands ESAB’s growth potential. "This acquisition further expands ESAB’s total addressable market by approximately $5 billion and accelerates our journey toward a portfolio that is faster growing, higher margin and less cyclical. The combination also strengthens our exposure to attractive, high-growth end markets including Aerospace and Defense, Nuclear, Energy and Civil Infrastructure."
ESAB expects Eddyfi to deliver high-single-digit organic growth with gross margins exceeding 65%. "As we integrate the business and deploy the ESAB Business Excellence System (EBXai), we anticipate unlocking $20 million of synergies and additional operational and commercial benefits. This acquisition is fully aligned with our disciplined capital allocation framework and our commitment to long-term shareholder value creation," Kambeyanda concluded.
Martin Thériault, Chairman and Founder of Eddyfi Technologies, welcomed the announcement, saying: "Joining forces with ESAB marks an exciting new chapter for our team. ESAB brings the scale, resources and long-term commitment needed to support our people, strengthen our impact with customers and honour the legacy we have built. This is far from being the end of our story. It is the beginning of a new chapter defined by growth, pride and renewed momentum."
The acquisition positions ESAB as a comprehensive solutions provider across critical industrial workflows, combining fabrication expertise with advanced inspection and monitoring technologies to serve high-value, safety-critical industries worldwide.
